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According to a report by Commercialbank Capital, construction market in Qatar is expected to outperform many developed economies by averaging a growth rate of 12.5% a year in this decade, Gulf Times has reported. The number of projects planned or underway in the Gulf country stood at $214bn in October 2011, the report said. The value of projects has grown at a compound annual growth rate (CAGR) of 40% between 2005 and 2011, while the value of projects under execution stands at $59.8bn, with the transportation sector accounting for around 30% of the projects under execution, it said.